From:                     <>

Sent:                               12 May 2016 09:58

To:                                   Henry Franklin

Subject:                          The 3% Additional Dwelling Supplement - what you need to know



All you need to know about deposit protection and the PRS


Hi, and welcome to the latest edition of Open House, our newsletter keeping you up-to-date with what’s happening in deposit protection and the private rented sector (PRS).

In this edition we give you all the information you need about the forthcoming CLA Agency Business Event, which we're sponsoring for the second year in a row. It's going to be a great day, so if you're a letting agent, make sure you sign up!

Also in this issue, we tell you about the new 3% Additional Dwelling Supplement that came into effect at the start of the April. We also bring you up to speed with the latest news from our charity fund, and we re-visit the electrical safety regulations that became law at the end of last year. There’s another edition of our interactive case study, Be The Adjudicator, and our top tips to help you prepare for disputes, or hopefully avoid them altogether.

The Agency Business Event is right around the corner!

On 19 May, we’re sponsoring the Council of Letting Agents’ (CLA) annual Agency Business Event for the second year running. It’s always great to get out and meet letting agents, and we really enjoy catching up with those of you who use our service and finding out how things are going for you.

We really value the feedback we get at this event and can’t wait to see you all again. Daren, our Head of Tenancy Deposit Protection, and David, our Senior Account Manager, will be there. So if you’re going, do come along and say hi to them. Book your place here.

In the last 18 months, we’ve also been working with Landlord Accreditation Scotland (LAS) to provide training and expertise to landlords and letting agents across the country.  It’s great to be able to contribute to improving the PRS in Scotland and we look forward to more events in the future. To read more about our events with LAS and CLA, click the link below.

Read all about our events here

National Landlord Day

The 3% Additional Dwelling Supplement is now in effect

In December last year, the Finance Secretary John Swinney announced a surcharge for people buying second homes and buy-to-let properties. On 01 April 2016 the Additional Dwelling Supplement, which will add an extra 3% onto additional properties purchased by existing homeowners, came into effect.

The charge is equal to 3% of the price of properties costing over £40,000, and is on top of the existing Land and Building Transaction Tax (LBTT), which replaced the UK stamp duty in April 2015.

According to research carried out by the Scottish Fiscal Commission, the new 3% surcharge will affect between 8,500 and 12,500 house purchases every year, and could generate anywhere from £19m to £27m for the treasury.

You can find out all you need to know about the new supplement on the Scottish Government’s revenue website.

Click here for more information

We're helping good causes!

Every three months, along with our sister company The DPS, we award £20,000 to charities operating in the PRS. In January, we were pleased to award £15,000 to YMCA Glenrothes.

For over 23 years, YMCA Glenrothes Supported Accommodation has carried out vital work in their local community, providing a ‘safety-net’ for people in need. They support people affected by poverty and disadvantage, including young people in hostels, houses and flats.

Mary Hill, Director of the YMCA Glenrothes, said “We are delighted to work with The LPS Scotland and organisations that give something back to the community. The YMCA helps young people become good tenants and The LPS Scotland has given us a head start in this ongoing support work.”

If you know a charity who may benefit from an award from our Charity Donations Fund, why not encourage them to apply? They can find out if they may be eligible and download an application form on our website.

 Download your form here   

National Landlord Day

Furnished with the facts?

In this month’s ‘Be the adjudicator’, we look at a case where a claim for the cost of removal of furniture items left in the property rests on the evidence provided to the adjudicator.

Take your seat in the adjudicator’s chair, review the evidence and decide whether you think the evidence justifies an award.

  Click here to test your skills 

New electrical safety regulations – 6 months on

It’s now been 6 months since the new electrical safety regulations for Scotland’s private rented sector come into force.

Requiring landlords to conduct regular electrical checks on their properties, the new regulations may, at first glance, seem a little confusing, even to experienced landlords.

Well, never fear. Here at the LPS, we’re on your side, and want you to stay on the right side of the law. Before the new legislation came into effect, we wrote a blog with the help of Electrical Safety First’s Director General, Phil Buckle. The blog told landlords exactly what they would have to do to comply with the new laws, and you can refresh yourself by clicking the link below.

Remind yourself of the regulations here 

National Landlord Day

Our top ten dispute tips

Unfortunately, in around 2% of tenancies, landlords and tenants can’t agree on how the deposit should be repaid. In these cases, they look to our Dispute Resolution process to reach a decision.

Many claims fail due to poor preparation, so our expert adjudicators have compiled their top tips for giving your claim the best chance of success.

Take a look at our new infographic here

You can find contact details and helpful information on our website. Please do not reply to this message.

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